The typical homebuyer put down 18.6% of the purchase price, up from 15% a year ago. Nearly 3 in 5 homebuyers put down more than 10% of the purchase price, one of the highest shares on record. All-cash purchases made up just over 30% of all sales, while FHA loans made up the lowest share
Pending starter home sales grew 10% in July year over year, while other price brackets fell. The median price for a U.S. starter home climbed to $250,000 in July, but price growth was slower than for other price brackets. Starter homebuyers are moving off the sidelines as mortgage rates fall and inventory rises. Pending sales
Home prices grew 0.2% in July, equal to the slowest pace since January 2023. Twenty of the 50 most populous U.S. metros recorded a drop in home prices. Prices continue to inch up due to a lack of inventory and competition. U.S. home prices ticked up 0.2% for the second-consecutive month in July, on a
The nationwide median asking rent was $1,647 in July, down $53 from the all-time high in 2022. Rents for 3+ bedroom apartments fell the fastest, dropping 2.4% year over year. Rents fell in Sun Belt metros, especially in Florida and Texas, where new construction levels have been strong since the pandemic. The median asking rent
There are now eight trillion-dollar metros, up from four a year ago, with Anaheim, CA, Washington, DC, Chicago and Phoenix joining the list of places where the total value of homes tops $1 trillion. Two New Jersey metros within commuting distance of New York saw the fastest growth in aggregate home value, while Sun Belt
17.3% of house hunters, overall, would trade off their safety to find an affordable home. Concern for safety is also a common reason why people are looking to move in the first place. Access to healthcare services, restaurants, bars and coffee shops top the list of trade-offs house hunters are willing to make in order